The Great Happiness Moderation

descriptionPublicationkeyboard_double_arrow_right Article , Part of book or chapter of book , Other literature type , Research , Preprint , Report 01 Jan 2012 France English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Clark, Andrew E.; Flèche, Sarah; Senik, Claudia;

doi: 10.2139/ssrn.2157903 , 10.1093/acprof:oso/9780198723653.003.0003 , 10.2139/ssrn.2135447

handle: 10419/62363 , 10419/61212

The Great Happiness Moderation

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Abstract

This paper shows that within-country happiness inequality has fallen in the majority of countries that have experienced positive income growth over the last forty years, in particular in developed countries. This new stylized fact comes as an addition to the Easterlin paradox, which states that the time trend in average happiness is flat during episodes of long-run income growth. This mean-preserving declining spread in happiness comes about via falls in both the share of individuals who declare low and high levels of happiness. Rising income inequality moderates the fall in happiness inequality, and may even reverse it after some point, for example in the US starting in the 1990s. Hence, if raising the income of all does not raise the happiness of all, it will at least harmonize the happiness of all, providing that income inequality does not grow too much. Behind the veil of ignorance, lower happiness inequality would certainly be considered as attractive by risk-averse individuals.

Country

France

Related Organizations

Sorbonne University
France
French National Centre for Scientific Research
France
École des Ponts ParisTech
France
PSL Research University
France
Institute for the Study of Labor
Germany

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Keywords

inequality, and Their Distributions, JEL: O - Economic Development, Bonheur, Happiness, Glücksforschung, Happiness,Inequality,Economic growth,Development,Easterlin paradox,Bonheur,Bien-être subjectif,Croissance,Développement,Inégalités,Easterlin, I3, happiness, [SHS.ECO] Humanities and Social Sciences/Economics and Finance, D31, Easterlin paradox, Soziale Ungleichheit, ddc:330, Easterlin paradox, happiness, inequality, economic growth, development, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, economic growth, O15, and Poverty, Einkommensverteilung, D6, and Growth/O.O1 - Economic Development/O.O1.O15 - Human Resources • Human Development • Income Distribution • Migration, 330, Easterlin, Happiness, inequality, economic growth, development, Easterlin paradox, Welt, JEL: D - Microeconomics/D.D6 - Welfare Economics, Development, Education, Entwicklung, Croissance, Innovation, JEL: D - Microeconomics/D.D3 - Distribution/D.D3.D31 - Personal Income, development, Economic growth, Développement, Wealth, JEL: I - Health, Wirtschaftswachstum, Well-Being, and Welfare/I.I3 - Welfare, Zufriedenheit, Technological Change, Inequality, Bien-être subjectif, Inégalités, jel: jel:I3, jel: jel:D31, jel: jel:O15, jel: jel:D6

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